TV broadcaster eMedia plunged into a loss of R1.6bn in its 2018 financial year from a small profit of R160m in the prior year.eMedia complained that its free-to-air channel e.tv faced unfair competition from state-owned broadcaster SABC because it produces local content subsidised by taxpayers. The group said e.tv’s audience was falling "due to the popularity of local dramas commissioned by the SABC"."While the SABC commissions a substantial amount of local programming, at much higher cost than equivalent international content, our ability to commission additional local drama is limited by our production budget and profitability," the results statement said.The results included a R69m one-off write down of e.tv’s movie inventory.Within the pay-TV market, eMedia complained its eNCA service was suffering from its dependence on competitor Naspers’s subsidiary MultiChoice."The results were also impacted by the new MultiChoice agreement with eMedia Investments. In this regard, licence-fe...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.